How Businesses are Offering Exceptional Experiences to Win Customers

By CIOReview | Wednesday, October 17, 2018
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With markets becoming more globalized and consumers being lured to numerous stimuli, it is no longer enough for companies to endorse great products to win new customers. Research shows that by the year 2020, customer experience will surpass both product and price as the key brand differentiator. Further, it also indicates that 86 percent of buyers are willing to pay more for good customer experience. Delivering unexpected experiences will shock the customers out of the status quo, which will draw them closer to you. Moreover, a satisfied and delighted customer will tell their friends and family about their experience, so that they can be a part of it too.

This is one of the core reasons why successful companies like The Ritz-Carlton, Nike, and Goop have incorporated customer experience as an important part of their marketing strategy. Good customer experience can provide success for the organization irrespective of the type of business. Below is an example of how The Ritz-Carlton has effectively leveraged experiences to win more customers.

The Ritz-Carlton Empowers its Team to Render Exclusive Customer Experience

One of the main mottos of The Ritz-Carlton is to render their customers with an experience, which “enlivens the senses, instills well-being and fulfills even the unexpressed wishes and needs of our guests.” The company ensures the same by empowering its employees with both the autonomy and the resources to do so.

It is worth noting that the employees at The Ritz-Carlton are allowed to spend $2,000 per day per guest. A senior account executive explained their logic behind this approach on the company blog: “Employee empowerment means being able to use my natural ability to create a lasting memory for guests or resolve a guest issue and have the confidence that my company supports me 100 percent in my effort. Sometimes the most delightful ‘wow’ moments happen in the blink of an eye. If employees are not empowered and need to cross layers of approval, these moments could be lost forever.”

It is crucial to set your intention about how enterprises want their customers to feel after interacting with their business. Moreover, they should also equip and empower each member of their team with the resources needed to execute their vision.